Washington: A major change is about to take place in the US currency. President Donald Trump’s signature will now appear on new US paper notes. This will be the first time in US history that a sitting president’s signature will be featured on the currency.
Who made the announcement?
The US Treasury Department made the announced on Thursday, saying the move coincides with the country’s 250th anniversary of independence. It also marks the end of a 165-year-old tradition. Since 1861, US currency has featured the signature of the “Treasurer of the United States,” but it will now be removed.
According to the Treasury, new $100 notes will be printed in June, bearing the signatures of President Donald Trump and Treasury Secretary Scott Bessant. Other denominations will be issued gradually after that.
What did US Treasury Secretary say?
US Treasury Secretary Scott Bessent stated that this initiative is being undertaken to reflect the country’s economic progress and historic achievements. He added that having Trump’s name on the US dollar is a way to commemorate this special occasion.
“There is no more powerful way to recognize the historic achievements of our great country and President Donald J Trump than US dollar bills bearing his name, and it is only appropriate that this historic currency be issued at the Semiquincentennial,” Bessent said in a statement released by the US Department of the Treasury.
Meanwhile, US Treasurer Brandon Beach also supported the decision, calling it “appropriate” and “well deserved”.
Will Trump’s photo will be on a gold coin?
Previously, it was announced that a special gold coin (commemorative gold coin) would be issued to mark the 250th anniversary of American independence. It would feature President Donald Trump. This proposed 24-carat gold coin depicts Trump leaning on the “Resolute Desk” with his fist clenched.
This isn’t the first time a sitting president’s image has been featured on a commemorative gold coin in the United States. Previously, Calvin Coolidge appeared alongside George Washington on a commemorative coin issued in 1926 to mark the 150th anniversary of American independence. However, US law generally prohibits the image of a living president from being featured on currency.
The US Commission of Fine Arts approved the coin’s design on March 19. However, formal approval is still pending regarding the coin’s size and the issue of Trump’s image.
The United States declared independence on July 4, 1776. The American Declaration of Independence was adopted on this day, declaring the 13 American colonies’ independence from Great Britain. Therefore, every year, July 4 is celebrated as Independence Day in the United States, with fireworks, parades, and festivities.
